Property prices and government grants available to those entering the housing market for the first time, has led to the Northern Territory having the greatest number of first home buyers in the country, according to the Australian Bureau of Statistics.
Territorians Myla and Charlie Estella are one of many local families who have taken advantage of the grants while the market is most favourable towards buyers. The first home buyers purchased a block of land in Zuccoli and built their five-bedroom home using the $28,000 government funding available.
“The first home owners grant really helped us as you don’t need to save as much money to purchase your own property,” Mrs Estella said. “I’d definitely encourage anyone looking to buy their own home to apply for the grant.”
Purchasing a house and land package for $605,000, Mrs Estella said they considered building in other areas such as Muirhead and Durack, but were attracted to Zuccoli for its affordability and size.
“Zuccoli was the best place for us as it’s perfectly located and the price of the land here is within our budget,” she said. With three children in their teens, the Mr and Mrs Estella said their 600sqm block provides the family with ample space.
“We all enjoy living at Zuccoli and the kids all have their own rooms and space. Previously they shared a room, so it is definitely an upgrade,” Mrs Estella said.
Zuccoli sales consultant Nicole Turner said she has noticed an increase in interest from first home buyers over the past 12 months.
“The first-home buyers grant provides people with an opportunity to dive into the property market and own a house of their own,” she said.
“Without it, the process of purchasing a house would be a lot more difficult, it is a helping hand for those wanting to set foot in the property market.”
Ms Turner felt now was an ideal time to purchase property in the Top End, particularly for first-home buyers.
“Since the introduction of the grant it’s been great to see an increase in the number of buyers looking to build their first home,” she said.
For more information on the Northern Territory’s FHOG and to check your eligibility visit the NT Government website.